Strong ties with Republic of Korea will boost Karnataka’s economy: CM Bommai

Bengaluru (Karnataka) [India], July 7 (ANI): Karnataka Chief Minister Basavaraj Bommai on Thursday stated that the strong relations between Karnataka and the Republic of Korea would give a boost to the economy of the state.
“Strengthening of relations between the Republic of Korea, which is a global powerhouse in electronics and automobiles sector, and Karnataka which is a frontline state in technology, would give a boost to the bilateral economy,” CM Bommai opined.
The Chief Minister held a bilateral discussion with a delegation of the Republic of Korea led by its Ambassador to India Chang Jae-bok today.
“It is a matter of pride that Karnataka has had close ties with Korea for many decades. It is commendable that Korea is manufacturing excellent products with state-of-the-art technology. India and Karnataka state are emerging as major economies with skilled human resources. India is a hot favourite as an investment destination. Karnataka is at the forefront among the states attracting about 38 per cent of the total FDI flowing into the country,” he said.
Putting forth the benefits of ties between Karnataka and Korea, the CM added, “Karnataka is the home to the highest number of international R&D centres in the world, it is the global hub of technology-based industries. Against this backdrop, it would be a great mutual advantage economically, if Korea and Karnataka joined hands.”
The Chief Minister had invited the Korean delegation to participate in the Bengaluru Tech Summit and Karnataka Global Investors Meet that are slated to be held in November.
Earlier, Chang Jae-bok had said, “Korea is keen to further strengthen its economic relations with Karnataka. Many startups are eager to invest in Karnataka. Already over 40 Korean companies have a presence here. The Korean Consular office has organised a programme– Korea on the move– in Bengaluru, which is drawing a huge response from the people.”
Large and Medium Industries Minister Murugesh Nirani, Additional Chief Secretary in the department of Industries EV Ramana Reddy and other senior officials were also present at the event of discussion. (ANI)